Multi family in Harrison, NJ

[Eric T.]

Hello All,

I am looking to purchase a multi family home in the New Jersey area that is within 1 hour commute to NYC. I have been eyeing Harrison NJ with the newer built multi family homes ranging from 700 to 750k located 15 minutes away from the Path train. While I have explored the location and like the neighborhood I am not sure if the price is reasonable and whether the property values are already at its peak and set for a downfall.

Also I have seen units advertised for$2000 rent for properties in Northern part of Harrison nj, is that even achievable? I am questioning because you can rent a 2bd 2ba in Brooklyn ny for $2000 and the commute is 45min to Manhatten.

A little background I am 30 years old and work in Mid Town and looking to purchase a multi family for me and wife to live in and rent out one unit.

[Ian Cramsey]

Hey Eric, congrats on taking the first step! I'd be more than happy to help with the Harrison house hack. Harrison is great town but inventory is often on the low side, so in that market it's best to ready to pull the trigger if you find a gem. I'm very familiar with the area and can also speak to some other markets that would also fulfill that 15 mins to PATH train and under 1 hr commute to midtown. My wife and I started out with a 3 unit house hack in Jersey City - it's such a great way to get the ball rolling and into the landlording game :)